Development Site Already Approved for 22 New Apartments Sells for $2.1M January 26, 2018

Connect Media | January 25, 2018

A local developer paid $2.1 million for a site at 3116 Clarendon Rd. in the Flatbush neighborhood of Brooklyn. The development site comes with an approved plan to develop 22 new rental apartments. The nine-story, 17,892-square-foot elevator building, would also include 3,285 square feet of community facilities and eight underground parking spaces.

“With an increasing number of young professionals moving into Flatbush, the buyer seized on the demand for new multifamily product and decided to pursue this strategically situated property,” said Shawn Sadaghati of GFI, who brokered the sale.

“This new development is going to fill a much-needed void,” said Sadaghati.